S&P and Dow close at record levels at year end

Nasdaq the big winner in 2020

The S&P and Dow are closing at record levels at the year end.
  • The Nasdaq led the charge in 2020 with a gain of 43.64% That was the largest gain since 2009
  • S&P was up 16.26%.  Since 2010 the S&P is up 240%
  • 57% of the gain in the S&P was from Microsoft, Amazon and Apple
  • The Dow is closing up 7.25% after spending most of the year in the negative. It wasn’t until the gap break higher on November 9th, that the index moved above and stayed above the closing level from 2019 at 28538.44. The Dow was down over -36% at the March low
The final numbers today are showing:
  • S&P index rose 24.03 points or +0.64% to 3756.07
  • NASDAQ index rose 18.279 points or 0.14% at 12888.28
  • Dow industrial average rose 196.92 points or 0.65% to 30606.48
Some of the big gainers for the year include:
  • Nio, +1112.94%
  • Tesla, +743.03%
  • Zoom, +395.71%
  • Crowdstrike, +324.74%
  • Square, +247.89%
  • Chewy, +209.97
  • Nvidia, +121.93%
  • Paypal, +116.51%
  • Albemarle, +101.97%
  • AMD, +99.98%
  • US steel, +88.93%
  • Slack, +88.03%
  • Apple, +80.75%
  • First Solar, +76.77%
  • Amazon, +76.26%
Some big losers for the year include:
  • United Airlines, -50.9%
  • Raytheon, -46.77%
  • Exxon Mobil, -46.03%
  • Schlumberger, -45.7%
  • American Airlines, -45.01%
  • Wells Fargo, -43.9%
  • Boeing, -34.29%
  • Walgreens, -32.36%
  • Delta Air Lines, -31.24%
  • Chevron, -29.92%
  • AT&T, -26.41%
  • Raytheon technologies, -24.12%
  • Citigroup, -22.82%
  • under armor, -22.42%
  • Boston Scientific -20.50%
  • Intel, -16.76%
  • General Dynamics, -15.61%
  • Southwest air, -13.65%
For the Dow 30, the biggest winners included:
  • Apple, +80.75%
  • Microsoft, +41.04%
  • Nike, +39.64%
  • Salesforce, +36.82%
  • Walt Disney, +25.27%
  • Home Depot, +21.63%
  • Walmart, +21.3%
  • Honeywell, +20.17%
The biggest losers from the Dow 30 include:
  • Boeing, -34.29%
  • Walgreens, -32.36%
  • Chevron, -29.92%
  • Intel, -16.76%
  • Bank of America, -13.94%
  • Merck, -10.06%
  • J.P. Morgan, -8.85%
  • Cisco, -6.69%

Major indices close higher but come off highs in the last hour or so of trading

S&P and NASDAQ index is still close at record highs

The major indices close higher but come off the highs and last hour so trading. Nevertheless both the NASDAQ and S&P closed at record high levels. The NASDAQ closed at record highs for the 46th time this year.

A snapshot of the close shows:
  • S&P index up 40.81 points or 1.13% at 3662.44.  The new all time high price comes in at 3678.45
  • the NASDAQ index close up 156.36 points or 1.28% at 12355.10. The new all-time intraday high price reached 12405.70
  • the Dow industrial average rose 185.28 points or 29823.92. The high price did extend back above the 30,000 level to a high price of 30083.31

US indices close lower but rebound into the close eases the pain

NASDAQ index leads the way to the downside

The major indices are closing lower on the day but did rebounded into the close which eased some of the downside pain.
  • Dow close that is lowest level since July 31
  • Amazon, Apple close over 5% lower. Apple closes 20% below its all-time high
  • Twitter plunged 21%
  • Facebook fell -6.3%
  • Major indices post the 2nd straight monthly declines
  • Dow has it’s worst month since March
  • NASDAQ closes nearly 10% below its all-time high
  • S&P closes just 1.21% from the 2019 close
  • S&P closes 9% from all time high
The final numbers are showing:
  • S&P index fell -40.15 points or -1.21% at 3269.96
  • NASDAQ index fell -274 points or -2.45% at 10911.59
  • Dow industrial average fell 157.51 points or -0.59% at 26501.68
Looking at the ranges and changes for the major indices in North America and Europe, Portugal led the way to the upside. Other gainers were the France’s CAC, Spain’s Ibex, and Italy’s FTSE MIB. The NASDAQ index was the biggest loser for the day.
For the week,

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Amazon, Facebook, Twitter, Alphabet all come in better than expectations

Amazon:
  • revenues $96.15 billion vs.$92.70 billion estimate
  • EPS $12.37 vs. $7.41 estimate
  • the caveat is AWS numbers came in about expectations and apparently there was favorable taxes
  • Amazon shares are trading down at $3163 after closing at $3211
Facebook
  • EPS $2.71 vs. $1.91 estimate
  • revenues $21.47 billion vs. 19.28 billion estimate
  • Facebook shares are trading down at $275 after closing at $280.83

Twitter

  • revenues 936 million vs. 777 million estimate
  • earnings-per-share $0.19 adjusted vs. $0.06 estimate
  • Twitter is trading down at $46.33 after closing at $52.43
Alphabet
  • revenues 46.17 billion vs. 42.90 billion estimate
  • earnings-per-share $16.40 vs. $11.29 estimate
  • Alphabet shares are trading up at $1638 after closing at $1556.88
Starbucks
  • earnings-per-share $0.51 vs. $0.31 estimate
  • revenues $6.2 billion worth of $6.06 billion estimate
  • Starbucks shares are trading up at $89.40 after closing at$88.30

FBI: Russia, Iran have attempted to interfere with US election

US directory of national intelligence Ratcliffe announces the discovery

  • US has identified Russia, Iran as countries who have attempted to interfere with the US election
  • Has sent spoof emails designed to intimidate voters, incite unrest, damage Pres. Trump
  • Aware that Russia has obtained some voter information
  • intelligence community court threat, reacted swiftly
  • This is not a partisan issue
  • Prepared for actions by those hostile to democracy

The interference apparently came through emails threatening those who voted against Trump.

Radcliffe says that the email, apparently from The Proud Boys, is intended to hurt Pres. Trump. Of course, if a recipient was intimidated by the email, it might benefit Pres. Trump.
Regardless of the intentions, stopping interference in elections is certainly a prerogative. FBI’s Wray is on the wires saying:
  • The FBI will not tolerate 4 interference elections
  • Election infrastructure remains resilient

US Indices end the session higher but come off the best levels of the day

NASDAQ index has its best day since September 9

The major indices are all closing higher with the NASDAQ index leading the way.

Highlights include
  • major indices rise for the 4th consecutive day
  • NASDAQ index has its best day cents September 9
  • S&P and NASDAQ close lesson 2% below its all-time high
  • 10 of 11 sectors in the S&P rise materials move lower
  • record close for the Dow transports

A final look at the closing numbers shows:

  • The S&P index rose 56.99 points or 1.64% at 3534.12. The my price reached 3549.85. The low price extended to 3499.61
  • The NASDAQ index close up 296.31 points or 2.56% at 11876.25. It’s high price reached 11965.53. The low extended to 11704.133
  • The Dow industrial average rose 250.62 points or 0.88% at 28837.52 The high price reached 28957.90. The low price extended to 28659.67.
Apple shares outperformed with a 6.26% gain. The company will release their new iPhone on October 13. Amazon also outperformed with a 4.75% gain. The delayed Amazon prime day(s) will be on October 13 and October 14.
Other big gainers today included:
  • Twitter, +5.1%
  • Chewy, +4.63%
  • Facebook, +4.26%
  • Morgan Stanley, +3.91%
  • Alphabet, +3.6%
  • Nvidia, +3.37%
  • Goldman Sachs, +3.18%

US indices close sharply higher. Dow has best day since July

S&P index has all sectors in the green

The major US stock indices are closing sharply higher on hopes for targeted coronavirus aid

  • All 30 Dow stocks closed in the green
  • All 11 S&P sectors closed higher
  • Dow is up nearly 600 points at the highs
  • Stocks close higher to last 3 trading days
  • Dow closes at the highest level since September 2
  • Dow has best day since July
  • The gains today erased the losses (and then some) from yesterday. Yesterday the S&P fell -1.4%. The NASDAQ index fell -1.57% and the Dow industrial average fell by -1.34%.
The final numbers are showing:
  • S&P index rose 58.47 points or 1.74% at 3419.43. The high reached 3426.26. The low extended to 334.56
  • NASDAQ index closed up 209.99 points or 1.88% at 11364.59. The high reached 11380.55. The low reached 11258.35
  • Dow rose 530.7 points or 1.91% at 28303.46. The hi reached 28369.66. The low extended to 27971.36
Some winners include:
  • First Solar, +7.08%
  • Netflix, +5.71%
  • American Express, +4.35%
  • United Airlines, +4.30%
  • Corning, +4.25%
  • Beyond Meat, +4.0%
  • Salesforce, +3.89%
  • Western Digital, +3.56%
  • Slack, +3.53%
  • Boeing, +3.16%
The worst performing Dow stocks include:
  • Verizon, +0.2%
  • Walmart, +0.2%
  • Merck and Company, +0.51%
Other losers today included:
  • Exxon Mobil, -2.49%
  • GoodRx, -1.14%
  • Lyft, -0.49%
  • Papa John’s, -0.38%
  • Crowdstrike, -0.34%
  • Facebook, -0.27%
  • Raytheon, unchanged

NASDAQ leads the way to the upside. S&P and NASDAQ break 4-day losing streak

Dow breaks 3 day slide

The S&P and NASDAQ index broke a 4 day losing streak. The Dow industrial average broke its 3 day losing streak as investors liked Feds Powell comments on the economy is resilient, and the expectations at the Fed would remain on hold for a long period of time.

A look at the final numbers are showing:
  • S&P index rose 34.49 points or 1.05% to 3315.56. It’s high reached 33 to 0.31. The low extended to 3270.95.
  • Nasdaq index rose 184.83 points or 1.71% at 10963.62. Its high reached 10979.64. The low extended to 10737.51
  • Dow rose 140.34 points or 0.52% at 27288.04. It’s high reached 27333.09. The low extended to 26989.93.

Reasons for the sliding oil price pile up

  • Crude oil prices collapsed, with Brent crude closing under USD40/bbl for the first time since June
  • risk-off tone across markets 
  • stronger USD headwinds
  • tone was set earlier this week after Saudi Aramco cut its prices to Asian refiners, suggesting demand is weak
  • Bloomberg survey showed that only four out of ten Asian refiners would be subsequently trying to buy more Saudi crude
  • Abu Dhabi National Oil Co also cut its prices on Tuesday
  • US refiners are also cutting output, as the summer driving season ends and inventories remain high
  • rising COVID-19 infections across the globe doesn’t bode well for demand in the short term
  • futures markets widening in the contango for both Brent and WTI to their widest levels since May

Pres. Trump: He is thinking about decoupling from China

Pres. Trump on China

Pres. Trump speaking in a Labor Day news conference at the White House says
  • possibility of decoupling US economy from China
  • says it would not lead to monetary losses
  • WTO has become much better much nicer to US
  • Because of Biden, China shuttered 70,000 businesses
  • China faces decoupling or massive tariffs from US
  • US will prohibit federal contracts to companies that outsource to China
  • Dems don’t want to make a deal because they know it is good for the economy.
  • He would support prove into DeJoy/donations
  • We may have a vaccine before the election
  • We are doing equally as well on therapeutics
  • For me, the faster the better for a vaccine
  • The most important thing is saving lines